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In this podcast Dr. Rick explores different spending styles, the impact on relationships, and how couples can communicate and manage their finances. He highlights the importance of understanding each other’s perspectives and finding a balance between shared and individual spending. The conversation delves into practical tips for managing money in relationships, raising children, and navigating the complex world of gifts and spending styles.

Top 5 Highlights

1. Dr. Rick identifies two main spending styles: “tightwads” who experience anxiety around spending and “spendthrifts” who are more impulsive and enjoy the present moment.

2. He emphasises the importance of open communication about money and how it impacts couples.

3. Dr. Rick advises that parents be mindful of the messages they convey about spending and recognise that children learn more from observation than from words.

4. He stresses the value of thoughtfully chosen gifts as a means of showing appreciation and understanding in a relationship.

5. Dr. Rick suggests that couples find a balance between financial transparency and individuality to foster a healthy relationship.

Dr. Scott Rick is a marketing professor at the University of Michigan’s Ross School of Business. He holds a PhD in Behavioral Decision Research from Carnegie Mellon University, where he was a National Science Foundation graduate research fellow. He is author of Tightwads and Spendthrifts: Navigating the Money Minefield in Real Relationships Connect on Linkedin : https://www.linkedin.com/in/scottianrick/ Scott's Book https://www.amazon.in/Tightwads-Spendthrifts-Navigating-Minefield-Relationships/dp/1250280079

Jagged with Jasravee is facilitated by Jasravee Kaur Chandra. Jasravee has over 20 years experience as a Strategic Brand Builder, Communications Leader and Entrepreneur. Please visit Jasravee at https://jasravee.com/ Connect with Jasravee on Linkedin at https://www.linkedin.com/in/jasravee/ Email Jasravee at jasravee@gmail.com Follow Jagged with Jasravee on Social Media Campsite One Link : https://campsite.bio/jaggedwithjasravee

SUMMARY

The episode highlights the importance of leadership, accountability, transparency, and empathy in crisis management. The professors emphasise that brands need to proactively address potential transgressions and build a culture of authenticity to navigate challenging situations.

Highlights

🎯 The professors use real-life examples like Boeing, Tylenol, Starbucks, and Dolce & Gabbana to illustrate the impact of brand transgressions and the importance of crisis management.

💼 The episode underscores the significance of leadership in shaping a brand’s response to a crisis.

🗣️ It emphasizes the need for transparency and accountability, with the hosts urging brands to take responsibility for their actions and apologize for any harm caused.

🤝 They stress the importance of treating all individuals with dignity, regardless of their background, and protecting the planet as a stakeholder.

✨ The hosts highlight the benefits of building an authentic brand, one that consistently fulfills its promises, and the long-term positive impact it can have on a company’s success.

GUESTS

Shailendra Pratap Jain (Shelley ) is Bret Wheat Endowed Professor of Marketing and International Business at the Foster School of Business, University of Washington, Seattle. Well-known for his widely published scholarship in consumer psychology,

Shalini Sarin Jain is Associate Professor of Management and the inaugural Director of Diversity, Equity, and Inclusion at the Milgard School of Business, University of Washington, Tacoma..

Please visit their website https://brandtransgressions.com/

Book on Amazon https://www.amazon.in/Managing-Brand-Transgressions-Principles-Transform/dp/150152108X

INDEX

00:00 Preview & Introduction

01:21 Case Study - Maggie Noodles in India

04:59 Case Study - Boeing 737 Max Crashes

13:02 Tylenol - Best Practices in Crisis Management

22:45 Case Study - Philadelphia Starbucks Incident.

29:02 Case Study: Dolce & Gabbana 's China Controversial Videos

35:34 Brands that Prioritise Values over Profit -Ben & Jerry's, Patagonia, The Taj Mumbai

38:02 Key Principles for Effective Crisis Management

47:45 Rapid Fire with Shelley & Shalini

49:53 Connecting with Shailendra & Shalini

Jagged with Jasravee is facilitated by Jasravee Kaur Chandra. Jasravee has over 20 years experience as a Strategic Brand Builder, Communications Leader and Entrepreneur.

Please visit Jasravee at https://jasravee.com/